🕹️Gaming Market (2023 – 2024)

The gaming market is one of the fastest-growing industries globally, with millions of players and the period of 2023- 2024 is expected to see further growth and innovation. The gaming industry is projected to reach a market value of over $200 billion by 2024, reflecting a compound annual growth rate (CAGR) over ~8% (Source: Newzoo, Global Games Market Report 2023). This growth is fueled by several key factors:

Mobile gaming dominance

Mobile gaming remains the largest segment, accounting for nearly 50% of total gaming revenue. The rise of hyper-casual games, which are easy to pick up and play, has further boosted mobile gaming’s popularity.

In-Game spending

In-game purchases, and subscription models have become integral to the gaming economy. Players are increasingly willing to spend on virtual goods, character skins, and other in-game enhancements, contributing significantly to the industry’s revenue.